Angela A. Hagerman

Alternative Capital Solutions and General Financing

• Quantum Capital Solutions, an affiliate of Quantum Capital Group, in its $300 million commitment to a joint venture with Comstock Resources Inc. (NYSE: CRK) to develop Comstock’s Western Haynesville midstream assets.
• GSO Capital, L.P., an affiliate of The Blackstone Group (NYSE: BX), in securing an investment grade term loan facility and a construction-to-term loan facility in connection with its $850 million recapitalization of Altus Power America, a market-leading solar power company that provides clean electricity to commercial, industrial and municipal clients across the United States.
• Ultra Petroleum Corp. in its corporate financing matters, including its $325 million first lien reserve based revolving loan and $975 million first lien term loan and an uptier exchange of $780 million of unsecured notes for $545 million of second lien notes.
• Blackstone-backed Custom Truck One Source (CTOS), the largest single-source provider of commercial trucks and equipment in North America, in its secured incremental $600 million term loan.
• Foundation Building Materials (NYSE: FBM) in its $375 million asset-based revolving credit facility and $450 million term loan.
• Iron Horse Midstream, a portfolio company of Cardinal Midstream and operator of a natural gas gathering and processing system in Oklahoma’s Anadarko Basin, in its $150 million senior secured revolving credit facility.
• Primexx Energy Partners, a leading exploration and production of oil and natural gas, in its $150 million note purchase facility with HPS Investment Partners.

Acquisition Financing

• Owl Rock Capital Group in a definitive business combination with Dyal Capital Partners to form Blue Owl Capital Inc. (NYSE: OWL), an alternative asset management firm with over $45 billion in assets under management.
• McDermott International, Inc. in its $2.725 billion sale of Lummus Technology to The Chatterjee Group and Rhône Group, through a court-supervised auction process as part of McDermott’s prepackaged Chapter 11 restructuring.
• BCE-Mach III LLC, an affiliate of Bayou City Energy Management and Mach Resources, in its $320 million acquisition of Alta Mesa Holdings, LP and its subsidiaries’ upstream oil and gas assets and Kingfisher Midstream, LLC and its subsidiaries’ midstream assets as part of a 363 sales process of the debtor sellers.
• Encino Acquisition Partners in obtaining underwritten financing from a syndicate of financial institutions for a $2 billion acquisition of Chesapeake Energy's Utica Shale oil and gas assets in Ohio.
• General Catalyst in the first-of-its-kind $200 million sale of a minority stake to Goldman Sachs Asset Management.
• Apax Partners in connection with the acquisition financing to support its $800 million take private of Quality Distribution, Inc.

Fund Finance

• Court Square Capital Management, L.P. on the completion of a single-asset continuation fund to continue its partnership with PlayCore Group, Inc., a market leading provider of multi-brand playground equipment and recreation products.
• Representation of private equity funds, as borrowers and major U.S. lenders as lead agent and arranger in dozens of single and multi-jurisdictional capital call/subscription facilities, net asset value secured credit facilities, hybrid facilities, carried interest and fee-revenue secured credit facilities and employee co-investment credit facilities. Representative sponsor clients include: APG Partners, Arctos Partners LP, Ares Management, Beach Point Capital, Beeken Petty O’Keefe & Company, CIVC Partners, Comvest Partners, Dermody Properties, Digital Alpha Capital, Dominus Capital, Dune Real Estate, Gallant Capital Partners, GID Real Estate Investments, H.I.G. Capital, Intervale Capital, JPM Instructure Fund, Landmark Partners, Lovell Minnick Partners, MCR Investors, NexPhase Capital, NGP Capital, Northlane Capital Partners, Owl Rock Capital, Perceptive Advisors, Rotunda Capital Partners, Summit Partners, Sun Capital, Symphony Technology Group, Vista Equity Partners and Whitehorse Liquidity Partners.

Restructuring/Exit Financing

• Valaris plc (NYSE: VAL) and 89 of its subsidiaries in their prearranged Chapter 11 cases and $500 million debtor-in-possession term loan agreement with certain of their noteholders. Valaris, incorporated in the United Kingdom, is the world’s largest offshore driller by fleet size, owning 67 drilling rigs and operating in every major offshore hydrocarbon basin throughout the globe. Valaris filed Chapter 11 with a restructuring support agreement and backstop commitment agreement to fully equitize all $7.1 billion of its prepetition funded debt.
• McDermott International, Inc. (NYSE: MDR) and its affiliates, a leading global provider of integrated engineering, procurement, construction and technology services, in a $1.7 billion superpriority secured credit facility, and subsequently in creditor negotiations achieving a prepackaged Chapter 11 filing that deleveraged over $4 billion of funded debt and in securing a $2.8 billion debtor-in-possession financing package from their senior secured lenders, and upon exit from Chapter 11, in an exit financing consisting of $2.4 billion in letter of credit capacity and $544 million of term loan obligations.
• Denbury Resources Inc. (NYSE: DEN) and its affiliates, the only United States-based public company of scale with a primary focus on sustainable carbon dioxide enhanced oil recovery, in their prepackaged Chapter 11 cases. With approximately $2.5 billion in funded debt, Denbury’s restructuring support agreement with its creditors provided for a comprehensive financial restructuring that equitized all $2.1 billion of Denbury’s notes and included committed debtor-in-possession and exit financings from Denbury’s existing lenders.
• Ultra Petroleum Corp. and its affiliates, one of the largest oil and natural gas exploration and production companies in Wyoming, in their prepackaged Chapter 11 cases. With over $1.9 billion in funded debt, Ultra’s restructuring support agreement with its creditors provided for a comprehensive financial restructuring that includes committed debtor-in-possession and exit financings.
• Philadelphia Energy Solutions (NYSE: PESC), the largest oil refinery on the east coast, in its Chapter 11 cases following a catastrophic explosion at PES’s Girard Point refining complex that resulted in a permanent shutdown of its operations. In Chapter 11, PES obtained a $100 million of new DIP financing from its term lenders and pursued a competitive sale process for the refinery site and a claim under its $1.25 billion property insurance policy.